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Gene Ellis

Suez Isn't the Real Crisis for Oil Prices - WSJ.com - 0 views

online.wsj.com/...4260204578583723667583486.html

Suez oil impact

shared by Gene Ellis on 10 Jan 14 - No Cached
  • Gene Ellis on 10 Jan 14
     
    "BY LIAM DENNING Oil bulls are misreading the wisdom of crowds. Near-month U.S. crude-oil futures jumped above $100 a barrel Wednesday, ostensibly because of mass protests in Egypt. But it is worth remembering that Egypt is a net oil importer, not exporter. As for the Suez Canal, net traffic of oil and refined products-that is, the difference between northbound and southbound transit-amounted to roughly 101,000 barrels a day in the first quarter, according to the Suez Canal Authority. That is all of 0.1% of global demand. Egypt's Suez-Mediterranean"
  • Gene Ellis on 10 Jan 14
     
    "BY LIAM DENNING Oil bulls are misreading the wisdom of crowds. Near-month U.S. crude-oil futures jumped above $100 a barrel Wednesday, ostensibly because of mass protests in Egypt. But it is worth remembering that Egypt is a net oil importer, not exporter. As for the Suez Canal, net traffic of oil and refined products-that is, the difference between northbound and southbound transit-amounted to roughly 101,000 barrels a day in the first quarter, according to the Suez Canal Authority. That is all of 0.1% of global demand. Egypt's Suez-Mediterranean"
Gene Ellis

Suezmax - Wikipedia, the free encyclopedia - 0 views

en.wikipedia.org/Suezmax

shared by Gene Ellis on 10 Apr 13 - No Cached
  • The current channel depth of the canal allows for a maximum of 20.1 m (66 ft) of draft,[1] meaning a few fully laden supertankers are too deep to fit through, and either have to unload part of their cargo to other ships ("transhipment") or to a pipeline terminal before passing through, or alternatively avoid the Suez Canal and travel around Cape Agulhas instead. The canal was deepened in 2009 from 18 to 20 m (60 to 66 ft).
  • The term "Chinamax" refers to vessels able to use a number of harbours while fully laden. "Capesize" refers to bulk carriers too big to pass through the Suez Canal - and needing to go around the Cape of Good Hope - but recent dredging means many Capesize vessels can use the canal.
Gene Ellis

Arctic Shipping Soars, Led by Russia and Lured by Energy - 0 views

news.nationalgeographic.com/...c-shipping-soars-led-by-russia

russia artic shipping

shared by Gene Ellis on 09 Jan 14 - No Cached
  • Although the Arctic provides a shorter route around the world than the traditional course through warmer waters, it is not necessarily cheaper.
  • The ships were expensive to build and operate,
  • The first commercial Chinese vessel and first container ship to transit the NSR, the Yong Sheng, commissioned by state-owned Cosco shipping, arrived in Rotterdam on September 10 laden with steel and industrial machinery. Its 33-day journey from the Chinese port of Dailan was nine days and 2,800 nautical miles shorter than the conventional voyage through the Suez Canal
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  • The Arctic Council's 2009 report estimated that the NSR offers from a 35 percent to 60 percent savings in distance for ships traveling between Europe and the Far East. Ships also can circumvent regional conflicts and the risk of piracy near the coast of Africa or in the Straits of Malacca off Malaysia.
  • Hiring charges for mandatory escort by Rosatomflot's icebreakers vary, but the average cost is about $200,000,
  • the cost of escort through the NSR is roughly equivalent to that of passage through the Suez Canal.
  • Because "container" shipping of goods, (as opposed to bulk shipping of raw commodities like ores and fuel), relies heavily on on-time delivery, Carmel thinks it unlikely the NSR ever will become a major pathway for this kind of global commerce.
  • primary focus on the 22 percent of the world's remaining undiscovered oil and natural gas resources to be found in the far north.
  • Just last month, Novatek signed a deal to supply China National Petroleum Corporation for 15 years with fuel sent from Yamal by tanker
Gene Ellis

U.S. Ports Seek to Lure Big Ships After Panama Canal Expands - NYTimes.com - 0 views

www.nytimes.com/...fter-panama-canal-expands.html

panamax

shared by Gene Ellis on 10 Apr 13 - No Cached
  • The big ships — known as “Post-Panamax” and even “Super-Post-Panamax” — are already in heavy use worldwide, making up 16 percent of the container fleet but accounting for 45 percent of its capacity, according to a July report by the Army Corps of Engineers.
  • The Port of Virginia, in Norfolk, is ready to receive the big ships today. And New York is also prepared, thanks to a massive dredging project that began 13 years ago.
  • But nearly every port in the game still faces major challenges and expenses —
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  • Baltimore, which already has a 50-foot channel, has a bottleneck on the land side: the Howard Street tunnel, through which trains have to pass to reach the port, and which is too small to accommodate the double-stacked container cars that are increasingly the standard for rail shipping. The rail line CSX has announced a workaround that could cost hundreds of millions, involving a new yard beyond the tunnel filled with containers brought by truck; the port will load the trains with a single container to get through the tunnel, and the trains can be completed at the yard.
  • The big ships will also come via places beyond Panama: many are expected to come from Southeast Asia through the Suez Canal, and from South America’s eastern ports.
Gene Ellis

As Panama Canal Expands, West Coast Ports Scramble to Keep Big Cargo Vessels - NYTimes.com - 0 views

www.nytimes.com/...cramble-to-keep-big-ships.html

shared by Gene Ellis on 05 Feb 15 - No Cached
  • Making Everything Shipshape
  • The ports in Tacoma, Seattle, Oakland, Los Angeles, Long Beach and elsewhere offer much shorter sailing times than Gulf Coast and East Coast ports. But for shippers of some goods, the web of logistics, including trucks and railroads, ends up being less expensive if they go through the Panama Canal.
  • While the widened Panama Canal will allow an all-water route for big ships to the East Coast, the project — originally scheduled to open this year — has been plagued with construction delays. And the authorities have yet to announce toll charges for passing ships. In the end, it might be too expensive for some ships to use.
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  • At the same time, sailing patterns may shift as Asian manufacturing continues to move from China to countries to the south, like Singapore and Vietnam, which are actually closer by sea to East Coast ports through the Suez Canal than to West Coast ports across the Pacific.
  • For trade with China, Prince Rupert’s appeal is proximity. Prince Rupert is two to three days closer than the western coast of the United States, helping ships cut fuel costs.
  • While the railways and truck lines in Canada have a history of labor instability, cargo carriers sailing into the country can avoid taxes levied by the United States government.
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